$16K Grant Assists Development of Downtown Newport Park and
Amphitheater

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The Downtown Revitalization and Improvement Volunteer Effort (D.R.I.V.E.) received a $16,000 Partnership Grant Program award from Merchants and Planters Bank and FHLB Dallas. Newport, Arkansas, Mayor David Stewart was in attendance. (Photo: Business Wire)

The Downtown Revitalization and Improvement Volunteer Effort (D.R.I.V.E.) received a $16,000 Partnership Grant Program award from Merchants and Planters Bank and FHLB Dallas. Newport, Arkansas, Mayor David Stewart was in attendance. (Photo: Business Wire)

NEWPORT, Ark.--(BUSINESS WIRE)--Development of a park in downtown Newport, Arkansas, is getting a boost
from a $16,000 Partnership Grant Program (PGP) award, presented
yesterday to The Downtown Revitalization and Improvement Volunteer
Effort (D.R.I.V.E.). Mayor David Stewart joined representatives from
Merchants and Planters Bank and the Federal Home Loan Bank of Dallas
(FHLB Dallas) and other local dignitaries to award the grant. The funds
will be used for contractual fees related to the new park.

“Our great citizens have really gotten behind the park project since it
was announced in June 2015 with the city and the Newport Economic
Development Commission,” Mayor Stewart said. “This grant from Merchants
and Planters Bank and FHLB Dallas is greatly valued and helps us cover
critical expenses in the development process.”

D.R.I.V.E. was established in 2006 to revitalize downtown Newport.
Recent accomplishments include the renovation of sidewalks in more than
two downtown blocks as well as the installation of new streetlights and
electrical wiring in the area.

The new park is slated to include an outdoor amphitheater, walking path,
and veterans’ memorial. Fundraising for the project continues.

“Newport has so many positive qualities, and this project will build on
that solid foundation of family, friends, and fellowship,” said Jon
Chadwell, executive director of the Newport Economic Development
Commission. “The new park will add a welcoming aesthetic to downtown and
encourage community gathering. That’s a win-win situation for everyone.
Thank you, Merchants and Planters Bank and FHLB Dallas!”

“FHLB Dallas’ support furthers this project, bringing it a step closer
to reality,” Mr. Gowen said. “The PGP grant is aptly named since it is
the partnership between Merchants and Planters Bank and FHLB Dallas that
facilitated this award, and it is much appreciated.”

Through the PGP, member institutions contribute $500 up to $4,000 to a
community-based organization (CBO). FHLB Dallas matches the
contributions at a 3:1 ratio, which provide up to $12,000 in grant money
to a CBO. In 2016, FHLB Dallas awarded $225,000 in PGP funds to assist
23 CBOs. Combined with the $96,200 from member institutions, a total of
$321,200 was awarded this year.

“The PGP directs resources to charitable organizations that have the
support of our member institutions,” said Bruce Hatton, Affordable
Housing Program manager at FHLB Dallas. “The 3:1 match leverages
members’ contributions to more positively impact their communities.
Merchants and Planters Bank is committed to Newport’s success, and we
support that vision.”

PGP grants are offered annually through FHLB Dallas’ member institutions
via a lottery system. Funds may be used for research, organizational
capacity-building, grant- and funding-application assistance, or
contractual services.

About Merchants and Planters Bank

M&P Community Bancshares, Inc. currently has assets exceeding $250
million and is the holding company for Merchants and Planters Bank and M
and P Insurance and Investment Services. Merchants and Planters Bank has
offices serving the communities of Batesville, Des Arc, McCrory,
Newport, Newark, Searcy, Southside and Swifton. For more information,
please visit www.mandp.bank.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the
FHLBank system created by Congress in 1932. FHLB Dallas, with total
assets of $54.4 billion as of June 30, 2016, is a member-owned
cooperative that supports housing and community development by providing
competitively priced advances and other credit products to approximately
850 members and associated institutions in Arkansas, Louisiana,
Mississippi, New Mexico, and Texas. Visit fhlb.comfor more information.